Netflix, Inc. (NASDAQ:NFLX) Chairman Sells $23,360,364.00 in Stock

Netflix, Inc. (NASDAQ:NFLX) Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Reed Hastings also recently made the following trade(s):

• On Monday, March 3rd, Reed Hastings sold 30,485 shares of Netflix stock. The shares were sold at an average price of $981.92, for a total value of $29,933,831.20.
• On Monday, February 3rd, Reed Hastings sold 32,067 shares of Netflix stock. The shares were sold at an average price of $978.39, for a total value of $31,374,032.13.
• On Thursday, January 2nd, Reed Hastings sold 35,868 shares of Netflix stock. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44.

Netflix Stock Performance

NASDAQ NFLX traded up $7.14 during trading on Wednesday, hitting $935.52. 3,221,293 shares of the company’s stock traded hands, compared to its average volume of 3,591,552. The business has a 50 day moving average of $974.40 and a 200-day moving average of $872.78. The stock has a market capitalization of $400.18 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 earnings per share. As a group, equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netflix

Several large investors have recently added to or reduced their stakes in NFLX. Pathway Financial Advisers LLC grew its holdings in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new position in shares of Netflix during the fourth quarter worth about $27,000. Transce3nd LLC purchased a new stake in Netflix during the 4th quarter worth about $32,000. Newton One Investments LLC purchased a new position in shares of Netflix during the fourth quarter worth about $34,000. Finally, Pineridge Advisors LLC increased its position in Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NFLX shares. UBS Group reiterated a “buy” rating on shares of Netflix in a research report on Monday, March 10th. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. Oppenheimer raised their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Pivotal Research boosted their target price on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,021.02.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.